NYC Rent Laws in Balance as Scandals Hinder Albany Deals
Unless the governor and the Assembly reach an accord in the next five days, regulations that limit increases for 2 million city residents will expire.
New York Governor Andrew Cuomo speaks at a meeting with city representatives on New York's planned response to an Ebola case on October 16, 2014 in New York City.
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Governor Andrew Cuomo and lawmakers have five days to act before the expiration of regulations that limit rent increases for 2 million New York City residents.
Mayor Bill de Blasio, his fellow Democrats who control the state Assembly and tenant advocates want to end a rule that allows apartments to be removed from regulation when their rents top $2,500 a month. Cuomo says he wants to either end it or “significantly” raise the limit. Republicans who control the Senate have said they’re not willing to kill the rule, known as vacancy decontrol.